Investments (Tables)

6 Months Ended

Jun. 30, 2012

Investment Income

	Three Months Ended June 30				Six Months Ended June 30
	2012		2011		2012		2011
Fixed maturities	$	464,620	$	764,840	$	1,042,101	$	1,535,237
Short-term investments		9,776		2,061		14,368		5,061
Total Investment Income	$	474,396	$	766,901	$	1,056,469	$	1,540,298

Available for sale investments

				Gross		Gross			Estimated
		Amortized		Unrealized		Unrealized			Fair
		Cost		Gains		Losses			Value
June 30, 2012
Available-for-sale:
Fixed maturities
U.S. treasury securities	$	54,378,509	$	523,191	$	(4,620	)	$	54,897,080
Certificates of deposit		13,480,000		—		—			13,480,000
Total Fixed Maturities	$	67,858,509	$	523,191	$	(4,620	)	$	68,377,080

				Gross	Gross		Estimated
		Amortized		Unrealized	Unrealized		Fair
		Cost		Gains	Losses		Value
December 31, 2011
Available-for-sale:
Fixed maturities
U.S. treasury securities	$	73,432,677	$	1,453,947	—	$	74,886,624
Certificates of deposit		16,470,000		—	—		16,470,000
Total Fixed Maturities	$	89,902,677	$	1,453,947	—	$	91,356,624

Unrealized appreciation on investments

		June 30			December 31
		2012			2011
Gross unrealized appreciation of fixed maturities	$	523,191		$	1,453,947
Gross unrealized (depreciation) of fixed maturities		(4,620	)		—
Net unrealized appreciation on investments		518,571			1,453,947
Deferred federal tax expense		(176,314	)		(494,343	)
Net Unrealized Appreciation, Net of Deferred Income Taxes	$	342,257		$	959,604

Investment in short term assets

		June 30, 2012		December 31, 2011
U.S. treasury money market fund	$	1,198,600	$	6,802,126
Short-term U.S. treasury bills		53,282,638		30,288,668
Bank money market accounts		1,760,937		1,046,813
Bank savings accounts		1,762		1,862
Total Short-Term Investments	$	56,243,937	$	38,139,469